China has expanded the number of its free trade zones (FTZ) to 23 with the establishment of the China (Inner Mongolia) Pilot Free Trade Zone. The plan specifies 19 reform and innovation measures, including developing border trade in an innovative way, strengthening international logistics services, improving the efficiency of technology transfer and application, and expanding external exchanges across multiple fields. The plan aims to build the pilot FTZ into a hub for information exchange, transportation and logistics, allocation of resources and production factors, sci-tech innovation and industrial cooperation in key areas, connecting domestic and international markets while radiating to neighboring regions. The FTZ will fully leverage its role as an important bridgehead for China's opening up to the North, and strive to become a high-level FTZ featuring convenient investment and trade, a sound innovation ecosystem, clustering of competitive industries, and vibrant international exchanges.
The pilot FTZ covers 119.74 square kilometers and comprises three sub-zones in Hohhot, capital of Inner Mongolia, Manzhouli, a northern border city, and Erenhot, a land port on the China-Mongolia border, each tasked with different functions and the development of industries tailored to local conditions.
China had earlier established 22 pilot FTZs in areas including Shanghai, Guangdong, Liaoning, Hainan, Shandong and Beijing. The previous addition was the China (Xinjiang) Pilot Free Trade Zone in 2023, the Global Times reports.
